J.P. Morgan: Raises the Target Price of ZHEJIANGEXPRESS to HKD 7.1, maintains a "Shareholding" rating.
JPMorgan released a Research Report stating that it has raised the Target Price for ZHEJIANGEXPRESS (00576) by 4%, from 6.8 HKD to 7.1 HKD, maintaining a Shareholding rating. JPMorgan conservatively expects the company's revenue and Net Profit After Tax (NPAT) for the fiscal years 2025/2026 to have a compound annual growth rate (CAGR) of 2-3% year-on-year, primarily due to the company's significant exposure to China's export demand compared to its peers. In terms of dividends, it is expected that the company will maintain the dividend per share, which has already increased to 0.385 RMB last year, with a projected dividend yield of 6.5% for the fiscal year 2025/2026, which is the highest among its Chinese peers.
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